[OC] NVIDIA's FY22 income statementSubmitted by giteam t3_11lsrt1 in dataisbeautiful
lo_fi_ho t1_jbe0opd wrote
NVIDIA pays zero tax? TIL
EVOOhhYeah t1_jbe6csh wrote
Not only that, but received $200 million in tax benefits for all that R&D spend. Tax breaks for R&D make sense for smaller orgs, but not at this scale. NVIDIA would continue to innovate at this scale without the tax breaks to maintain their market edge.
lo_fi_ho t1_jbe9o45 wrote
Why they do not pay tax?
Big_Knife_SK t1_jbeffso wrote
I don't know what the program is called in other countries but in Canada it's called SR&ED. Basically you can claim back up to 70% of the expenses you paid into R&D, including salary.
Fleinsuppe t1_jbenony wrote
so drug companies also get these huge tax breaks? wtf are we overpaying them for then?
danielv123 t1_jbfp20f wrote
They aren't in Canada.
Torontogamer t1_jbg0f5a wrote
same reason as most places, because that's what they think you'll pay for it ...
conceptually it makes sense to promote drug development, and most development, but in practice it's very hard to implement anything 'fairly' when they are billions of dollars at stake.
[deleted] t1_jbf10vt wrote
[removed]
jdd18 t1_jbhtt0l wrote
Section 174 Capitalization
Cakeking7878 t1_jbh3tu5 wrote
Wtf. I keep hearing the whole point of capitalism “but they take risks when they invest, we can’t take away their profits. How will they innovate???”
Mean while they get tax breaks on this “risk”
Privatize profits, socialize the losses, bs is what it is
Amekaze t1_jbf4z47 wrote
Because taxes are for poor people.
scalpingsnake t1_jbeggan wrote
So they can make all the money
A_Doormat t1_jbg9f7r wrote
They do, its just not shown in this particular graph.
Obvious_Chapter2082 t1_jbes8mq wrote
That’s not true at all. The reason their rate is low is due to R&D getting capitalized this year, which increases the amount of FDII they pay.
If you look at the actual tax they paid this year, it’s around $2 billion, or a 50% tax rate
ExHax t1_jbe6704 wrote
Negative tax.
Obvious_Chapter2082 t1_jbesb7r wrote
The tax they paid in 2022 was about 50% of their pre-tax profit
Obvious_Chapter2082 t1_jbernzc wrote
That’s their income tax expense, which isn’t the same thing as the tax they pay. Judging from their 10-K, they did pay tax at around a 50% tax rate for 2022
nope_nic_tesla t1_jbfiszl wrote
According to their 10-K filing they owe over $2 billion in deferred income taxes.
Viewing a single comment thread. View all comments